The joint venture that Ford Motor Co. intends to launch with Anhui Zotye Automobile Co. to produce electric vehicles in China (for the Chinese market) is now moving forward.
Through an investment of 5 billion yuan ($756 million), Ford and Zotye will build a new manufacturing facility in Zhejiang province.
Under a new brand, the partners will sell small electric cars that hopefully will enable Ford to satisfy its government requirements for New Energy Vehicle share (which means 10% of all sales have to be offset with zero emission credits in 2019).
Ford envisions that 70% of all its car sales in China are to be electrified (which means at least conventional hybrids) by 2025. Whether or not that is good enough to satisfy a tightening Chinese mandate for plug-in vehicles remains to be seen.
At the same time Ford expects that New Energy Vehicle (AKA plug-ins) sales will reach 6 million by 2025 (including 4 million BEVs).
source: Automotive News